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Full text of "Extra census bulletin"

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Digitized by the Internet Archive 

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Extra Census Bulletin. 

No. 56. WASHINGTON, D. C. September 2, 1893. 



STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN IDAHO. 



DEPARTMENT OF THE INTERIOR, 

Census Office, 
Washington, D. O, August 15, 1893. 
Sir: 

The leading results of the investigation of farm and home proprietorship in Idaho are contained in this 
bulletin. In regard to farms, the conclusion is that 11.43 per cent of the farm families hire and 88.57 per cent own 
the farms cultivated by them; that 16.32 per pent of the farm owning families own subject to incumbrance and 
83.68 per cent own free of incumbrance. Among 100 farm families, 11 hire their farms, 15 own with incumbrance, 
and 74 without incumbrance. On the owned farms there are liens amounting to $1,375,115, which is 30.04 per cent 
of their value, and this debt bears interest at the average rate of 10.55 per cent, making the average annual interest 
charge $126 to each family. Each owned and incumbered farm, on the average, is worth $3,960, and is subject to a 
debt of $1,190. 

The corresponding facts for homes are that 41.53 per cent of the home families hire and 58.47 per cent own 
their homes ; that of the home owning families 94.45 per cent own free of incumbrance and 5.55 per cent with 
incumbrance. In 100 home families, on the average, 42 hire their homes, 3 own with incumbrance, and 55 without 
incumbrance. The debt on owned homes aggregates $300,208, or 31.07 per cent of their value, and bears interest 
at the average rate of 11.15 per cent, so that the annual amount of interest to each home averages $102. An 
average debt of $915 incumbers each home, which has the average value of $2,946. 

Real estate purchase and improvements, when not associated with other objects, caused 47.23 per cent of the 
farm families to incur 51.30 per cent of the farm debt and 63.42 per cent of the home families to incur 65.01 per cent 
of the home debt. 

Very respectfully, 

JAMES H. WARDLE, 

Acting Superintendent of Census. 
The Secretary of the Interior. 

C. O. P.— 3,500 



STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN IDAHO. 



BY GEORGE K. HOLMES AND JOHN S. LORD. 



Selections from the results of the investigation of farm and home proprietorship and indebtedness in Idaho are 
presented in this bulletin. Every family is regarded as occupying a farm or a home not on a farm, and as hiring 
such farm or home, or owning it free of incumbrance, or owning it subject to incumbrance. In the class last 
named, and in no other, account has been taken of the incumbrance, its rate of interest and object, and the value 
of the farm or home. 

Habitation proprietorship. — Among the 18,113 families of the state there are 5,115, or 28.24 per cent of the 
total, which hire their farms and homes and 12,998, or 71.76 per cent, which own them. Of the families which 
own, 1,484, or 11.42 per cent, have farm or home incumbrance and 11,514, or 88.58 per cent, are free of 
incumbrance. In 100 families, on the average, 28.24 hire their farms or homes, 8.19 own with incumbrance, and 
63.57 own without incumbrance. 

Farm proprietorship. — There are 7,997 farm families, which are 44.15 per cent of the total number of 
families. Of these 7,083, or 88.57 per cent, own and 914, or 11.43 per cent, hire the farms cultivated by them, 
while of the owning families 1,156, or 16.32 per cent, have incumbrances on their farms and 5,927, or 83.68 per 
cent, have no incumbrances. The average 100 farm families are composed of 11.43 that hire, 14.46 that own with 
incumbrance, and 74.11 that own without incumbrance. 

In 1880, 4.72 per cent of the farms were hired, so that there is an apparent relative increase of farm tenancy 
during the decade; but the sources of the statistics for 1880 and 1890 are not the same, since the figures for 1880 
represent farms and those for 1890 farm families, and this may somewhat affect the comparison. 

Home proprietorship. — The 10,116 home families are 55.85 per cent of the families of the state and are 
divided into the several classes as follows: hiring families, 4,201, or 41.53 per cent of the total number of home 
families; owning families, 5,915, or 58.47 per cent; families owning free of incumbrance, 5,587, or 94.45 per cent of 
the total number owning ; families owning subject to incumbrance, 328, or 5.55 per cent of the owning families. 
Of 100 home families, on the average, 41.53 hire their homes, 3.24 own with incumbrance, and 55.23 own without 
incumbrance. 

Value and incumbrance. — Liens amounting to $1,675,323 incumber the 1,484 owned farms and homes of the 
state that are subject to incumbrance, $1,375,115 of which is on 1,156 farms and $300,208 on 328 homes. The 
value of the incumbered farms and homes is $5,543,472 : farms, $4,577,195 ; homes, $966,277. Eatios of debt to 
value: farms and homes, 30.22 per cent; farms, 30.04 per cent; homes, 31.07 per cent. 

Average values and incumbrances. — The average owned and incumbered farm of the state is worth $3,960 ; 
home, $2,946. 

The average farm incumbrance for the state is $1,190 ; home, $915. 

Lemhi county has homes of the highest average value, namely, $7,813, and the least average value, $895, is in 
Bear Lake county. As before stated, all values are confined to incumbered farms and homes occupied by owners. 

Interest rates. — The chief rate of interest in this state is 10 per cent. 
56—2 3 



FARMS, HOMES, AND MORTGAGES. 

The facts from which the percentages contained in the following table were computed are exhibited in Table 3 : 

PERCENTAGE OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES 
AND AMOUNT OF INCUMBRANCE THEREON, BY RATES OF INTEREST. 



RATES OF INTEREST. 



Under 6 per cent 

6 per cent 

7 per cent 

8 per cent 

6 to 8 per cent, inclusi 

Over 6 per cent 

Over 8 per cent 

Over 10 per cent 

Over 12 per cent 



FOR FARMS. 



FOR HOMES. 



For 
number of 
families. 



1.47 
1.56 
2.86 
1.38 
5.97 
96.97 
92.56 
48.87 
9.34 



For 
amount. 



For 
number of 
families. 



1.24 
1.06 
6.08 
2.60 
9.79 
97.70 
88.97 
43.19 
7.71 



7.62 
1.22 
2.13 
2.74 
6.40 
91.16 
85.98 
53.97 
19.82 



3.32 
0.99 
1.28 
6.78 
9.24 
95.69 
87.44 
48.08 
15.07 



In the state, rates higher than 10 per cent are paid by 48.87 per cent of the farm debtor families on 43.19 per 
cent of the farm debt, and by 53.97 per cent of the home debtor families on 48.08 per cent of the home debt. 

The highest rate reported is 30 per cent, which is paid by 2 home families on a debt of SI, 056. 

The legislature of Idaho has limited the rate of interest as follows in the years named: 1864, no limit; 1871, 
24 per cent ; 1879, 18 per cent. 

Interest charge and average rates of interest. — The total interest charge for 1 year on the debt 
incumbering the owned farms of the state is §145,085 ; on the homes, $33,474; total, $178,559. 

The average interest charge for 1 year on each farm is $126; home, $102. 

On farm loans the average rate of interest is 10.55 per cent; on home loans, 11.15 per cent. Hence the 
average annual interest value of each owned and incumbered farm in this state is $418 ; of each home, $328. 

Objects of indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred 
discloses the fact that 47.23 per cent of the farm debtor families of the state incurred 51.30 per cent of the farm 
debt for the purpose of buying real estate and making real estate improvements, when these objects were not 
associated with other objects, and that for the same objects, in the case of homes, 63.42 per cent of the home debtor 
families incurred 65.01 per cent of the home debt. 

The objects of real estate purchase and improvements, business, and the purchase of personal propertj^, when 
not complicated with other objects, led 65.48 per cent of the farm debtor families of the state to incur 72.60 per 
cent of the farm debt, and 83.23 per cent of the home debtor families to incur 90.30 per cent of the home debt. 

Farm and family expenses, standing alone, are represented by 9.52 per cent of the farm debtor families of the 
state and 4.95 per cent of the farm debt; family expenses by 6.71 per cent of the home debtor families and 2.71 
per cent of the home debt. 



Table 1.- 



-NUMBER AND PERCENTAGE OF FAMILIES OCCUPYING OTv'NED AND HIRED AND FREE AND INCUMBERED 

FARMS AND HOMES. 



DESCRIPTION. 


Aggregate 


OWNING. 


Hiring. 


PERCENTAGE OF FAM- 
ILIES OWNING AND 
HIRING. 


PERCENTAGE OF FAM- 
ILIES OWNING FREE 
AND INCUMBERED OF 
TOTAL OWNING 
FAMILIES. 


PERCENTAGE OF FAM- 
ILIES OWNING FREE 
AND INCUMRKRKD OF 
TOTAL OWNING AND 
HIRING FAMILIES. 




Total. 


Free. 


Incum- 
bered. 


Owning. 


Hiring. 


Free. 


Incum- 
bered. 


Free. 


Incum- 
bered. 




18,113 


12,998 

7,083 
5,915 


11,514 

5,927 
5,587 


1,484 


5,115 


71.76 


28.24 


88.58 


11.42 


63.57 


8.19 






7,997 
10,116 






1,156 
328 


914 
4,201 


88.57 
58.47 


11.43 
41.53 


83.68 
94.45 


16.32 
5.55 


74.11 
55.23 


14.46 
3.24 


For homes 





OWNERSHIP AND DEBT IN IDAHO. 



Table 2.— VALUE OF FARMS AND HOMES OCCUPIED BY OWNERS AND 
INCUMBERED AND AMOUNT AND PERCENTAGE OF INCUMBRANCE 
THEREON. 



DESCRIPTION. 


Number of 

families 
owning with 
incumbrance. 


Value. 


Incumbrance. 


Percentage 

of 

incumbrance 

of value. 




1,484 


$5, 543, 472 


$1,675,323 


30.22 




1,156 

328 


4,577,195 
966,277 


1,375,115 
300,208 


30.04 
31.07 







Table 3.— SUMMARY OF NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS 
AND HOMES AND OF THE INCUMBRANCE THEREON, BY RATES OF INTEREST. 

[Rates of interest represented by mixed numbers are combined into groups; for instance, rates represented by "1-2" per cent 
include all rates greater than 1 per cent and less than 2 per cent.] 



RATES OF INTEREST. 



15-16 do. 

16-17 do . 



Incum- 
brance. 



FOR FARMS. 



550 

56.162 

1,514 

32,024 

13,662 

700,528 

68,984 

38,891 

62,021 

417,021 

31,102 

6,704 

10,413 

706 

7,350 

41,402 

440 

4,975 

1,130 

44,022 



600 . 
1,056 . 



300 
4,950 
5,073 
2,000 
4,000 
700 
14,511 



35,799 

1,514 

27,340 

12,862 

587,847 

67,484 

38,891 

59,121 

322,337 

26,637 

5,204 

9,713 

706 

6,250 

32,768 



FOR HOMES. 



4,197 
2,430 
2,544 



3,850 

550 

20,363 



112,681 
1,500 



2,900 
94,684 
4,465 
1,500 
700 



1,100 
8,634 



FARMS, HOMES, AND MORTGAGES. 



Table 4.— AMOUNT OF ANNUAL INTEREST CHARGE AND AVERAGE VALUE, INCUMBRANCE, 
ANNUAL INTEREST CHARGE, AND ANNUAL RATE OF INTEREST FOR FARMS AND HOMES 
OCCUPIED BY OWNERS AND INCUMBERED. 



DESCRIPTION. 


Average 
value of 
each in- 
cumbered 
farm or 
home. 


Average 
incum- 
brance on 
each farm 

or home. 


Total 
annual 
interest 
charge. 


Average 
annual in- 
terest 
charge on 
each farm 

or home. 


Average 

annual 

rate of 
interest, i 




$3,735 


81,129 


8178,559 


$120 


10.66 




3,960 

2.946 


1,190 
915 


145,085 
33,474 


126 
102 


10.55 
11.15